According to xinhuanet, the investment will be used for strengthening financial technology solutions such as its subsidiary Mercado Credito, boosting Mercado Envios operations, expanding its logistics network, and doubling the square meters of its warehouse space nationwide.
Furthermore, the expansion of operations will create more than 4,700 new jobs in areas such as shipping, e-payment, ecommerce, fraud prevention, marketing, and more. Overall, the planned investment for Mexico comes after the company's revenue grew over 100% annually in the third and fourth quarters of 2020.
The enterprise has been present in Latin America since 1999, mainly through its Mercado Libre, Mercado Pago, and Mercado Envios platforms.
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